Australian Millionaire Brett Blundy Moves to Singapore

Australian retail and property magnate Brett Blundy has relocated to Singapore, joining a peer group of foreign tycoons moving to the affluent island nation, people with knowledge of the situation told The Wall Street Journal.

Mr. Blundy, Australia’s 33rd richest person with a fortune of US$835 million according to Forbes, founded BB Retail Capital in 1980. He built up his initial fortune by growing a single record store called “Disco Duck” into a 238-store strong Sanity Entertainment Group, encompassing HMV and Virgin Entertainment, before selling it in 2009.

BB Retail Capital’s current investments include a 40% stake in BridgeClimb, a company which has enabled more than 3 million people to reach the top of the iconic Sydney Harbour Bridge, as well as majority stakes in retail brands Diva and Lovisa. Each of the jewelry and accessory brands operate stores across Australia, New Zealand, Southeast Asia and South Africa, while Diva also has a presence in China and European markets like Russia and Serbia.

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